Silver One Resources Announces Upgrade of Leach Pad Resources to Measured & Indicated at Candelaria

Silver One Resources Inc. (TSXV: SVE) (OTCQX: SLVRF) (FSE: BRK1) is pleased to report the completion of its Leach Pad resource update at the Candelaria Project in Nevada, resulting in an upgrade of previously Indicated resources on LP1 to the Measured and Indicated ("M&I"), and Inferred to Indicated on LP2. The effective date of the upgraded resource estimate is July 29, 2026. A copy of the National Instrument 43-101 ("NI 43-101") technical report (the "Report") on the Project will be filed on the SEDAR+ shortly after issuance of this news release. The Technical Report is titled "Technical Report: Updated Mineral Resource Estimate Heap Leach Pads on the Candelaria Property, Mineral and Esmeralda Counties, Nevada, USA" was prepared by James A. McCrea, P.Geo., who is a qualified person within the meaning of NI 43-101, is independent of the Company and has reviewed and approved the disclosure regarding the updated resource estimate included herein. Resource Upgrade Highlights: Updated M&I Leach Pad 1 (LP1) Resources are now: 22,186 million tonnes grading 43.5 g/t silver and 0.075 g/t gold, containing 31.03 million ounces of silver, and 53,498 ounces of gold Conversion of Inferred resources to Indicated on Leach Pad 2 (LP2) which are now: 11.457 million tonnes grading 44.7 g/t silver and 0.10 g/t gold, containing 16.47 million ounces of silver, and 36,835 ounces of gold. Silver-equivalent ("AgEq") resources now total 31.85 million ounces M&I on LP1, and 17.17 million ounces Indicated on LP2. Combined leach pad M&I resource totals 49.25 million ounces AgEq. Candelaria's project resources (from open-pit, underground, stockpiles and heap-leach pads) now total 126.6 million ounces of silver equivalent (120,709,000 ounces Ag, and 242,000 ounces Au) in the Measured and Indicated categories, and 13.4 million ounces of silver equivalent (12,597,000 ounces Ag and 33,800 ounces Au) in the Inferred category (see Table 1 and Table 2 below). Gregory Crowe, President and CEO, commented: "Upgrading the Leach Pad resource to entirely Measured and Indicated categories marks a major step forward for Silver One. This strengthened resource will feed directly into our Pre-Feasibility Study, which remains on track for completion before year-end. The improved confidence in tonnage and grade, combined with the metallurgical data we are generating, positions Candelaria for meaningful advancement as we continue to unlock value for our shareholders." The resource upgrade incorporates the results of 36 sonic drill holes drilled at LP1 in 1992, 45 sonic drill holes drilled in 2017 and 56 Hollow Stem Auger ("HSA") holes drilled in 2026, completed across the LP1 and LP2 leach pads. Table 1. Candelaria Leach Pad Mineral Resources. Effective Date July 29, 2026. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/4730/311738_sve-table1.jpg *- Contained Metal based on fire assay grades ˧ - AgEq(T) formula = Ag (T) + (Au * recovery * 67.73/0.8841) Ag, Au recoveries used in the calculation. Prices for calculating silver equivalents are US$27.5 oz Ag and US$2106 oz Au. LP1 cyanide leach estimated field silver and gold recoveries are 25% and 20% respectively. KCA lab column leach tests Ag and Au recoveries are 29% and 21% respectively. LP2 cyanide leach estimated field silver and gold recoveries are 35% and 25% respectively. KCA lab column leach tests Ag and Au recoveries are 40% and 27% respectively. Metal prices used for this resource estimate were US$2106/oz Au, US$27.50 oz Ag. Same prices were used for the processing scenarios related to reasonable prospects for eventual economic extraction. A Mineral Resource is a concentration or occurrence of solid material of economic interest in or on the Earth's crust in such form, grade or quality and quantity that there are reasonable prospects for eventual economic extraction. An Inferred Mine...